Who are south Africa’s wealthiest politicians?

Politicians wield not only power, they also gain access to financial wealth. We look at South Africa's political rich-list.

A recent spoof story published by MediaMass.net saying South African President Jacob Zuma is the richest politician in the world, had both friends and enemies of Zuma giggling.

The reports even said his wealth – apart from his large salary as president of South Africa – is due to “smart stock investments, substantial property holdings, lucrative endorsement deals with CoverGirl cosmetics, several restaurants (the “Fat Zuma Burger” chain) in Pretoria, a Football Team (the “Nkandla Angels”) and his own brand of Vodka (Pure Wonderzuma – South Africa)”.

But seriously, we set out to find the real rich politicians of South Africa.

Cyril Ramaphosa – net worth R6 billion

South Africa’s current deputy president is the first billionaire deputy president in the post-apartheid South Africa. He is the founder and former executive chairman of Shanduka Group, an investment holding South African firm. He is also the chairman of Bidvest and MTN, while being a non-executive director in Macsteel Holdings, Alexander Forbes and Standard Bank.

He is known for playing a crucial role in the talks that led to a peaceful transition to democracy in South Africa and was actively involved in the drafting of South Africa’s Constitution of 1996.

Tokyo Sexwale – net worth R2.6 billion

The Soweto born Mosima Gabriel “Tokyo” Sexwale served many years on Robben Island with Nelson Mandela before becoming the Premier of the Gauteng Province.

As chairman of the formerly JSE-listed resources firm, Mvelaphanda Group, he became a big player in the diamond industry and was asked to serve as chairman of the Trans Hex Group and Northam Platinum. He is also a director of Absa, Allied Electronics Corporation and Gold Fields, wielding stacks of influence and financial power. It’s small wonder President Jacob Zuma appointed him as his Human Settlements Minister during his first term of office.

Thabo Mbeki – net worth R1 billion (estimated)

South Africa’s first deputy president under Nelson Mandela, Thabo Mbeki, took over as President after Mandela stepped down in 1999. One of the controversial issues in Mbeki’s political history played out between 1996 and 1999, when he chaired the cabinet sub-committee on arms procurement, which put forward and approved the purchase of R30-billion worth of military hardware. The deal led to allegations of corruption levelled against Mbeki, Jacob Zuma, Schabir Sheik and his brother Chippy Sheik, Trevor Manuel, Joe Modise and others.

He failed to remain president in his second term after being outvoted as leader of the ruling ANC at the party conference in Polokwane in 2007 but retained all the payments, salaries and other packages that he was receiving the day before he left office – for the rest of his life.

A resolution passed by the National Assembly also allows him to have annual pay increases based on those recommended by the Remuneration Commission. His medical aid is fully paid.

It is rumoured that he has a rather large love of expensive whiskey. Maybe this is why he has made good investments on- and offshore over a couple of decades. It helps if you are so well connected with powerful, influential and investment savvy people.

F.W. de Klerk – wealth unknown

Credited for ending Apartheid and and releasing Nelson Mandela from prison, former President F.W. de Klerk is known for keeping his financial affairs close to his chest. He once even went to court to secure the secrecy of his financial dealings when his son’s former wife tried to force him – the granddad of her children – to pay maintenance on his son’s behalf.

A lawyer by profession, he is said to have made lucrative investments throughout his political career, of which many was made well before the end of Apartheid. In 2012 the New York Times suggested in an article that De Klerk’s relinquishment of power “was an opportunistic move sensing that Apartheid had become politically and economically untenable… He thought it would be strategically savvy to relinquish control then, retire and enjoy the wealth that white South Africans like him had accumulated through the exploitation of the black majority”.King

King Goodwill Zwelithini – bankrupt

Well, technically King Goodwill has no money because he declared himself bankrupt last year after spending R4,8 million on a wedding, but considering the lifestyle he leads, he is one of the richest people in South Africa.

Last year he was allocated R51.3 million for the upkeep of his royal household. He could not manage to stay within his budget and, like every other year, had to be bailed out. This year he bought brand new Mercedes Benz E-class sedans for each if his six wives – and a seventh vehicle as a back-up.

Now we hear taxpayers have forked out almost R3 million on private flights for the King to attend social and official engagements. Zwelithini reportedly used a private charter 13 times between June 29, 2013 and August 29 last year.